The main difference is the amount of information provided in the free yearly credit report that you get every year as part of the fair credit reporting act.
The 3 credit reports you can get every year come from Trans Union, Equifax, and Experian.
The first thing any lender wants to know is if you’ve paid your credit accounts on time.
A longer credit history indicates that you’re an experienced borrower worth lending money to.
For example, if you apply for several credit cards at once, several credit inquiries will appear on your report.You, the three major credit bureaus, and any lenders you may do business with have access to your credit report.We won’t solicit or distribute your credit report or score to anyone when you sign up for a Credit Sesame account.Aim for a variety of revolving and installment credit, like credit cards, a loan or open account (like a utility bill).Though only a small influence on your credit score, a good credit mix means you can juggle those accounts and keep them in the air – financially speaking, that is.You can figure out your utilization rate by dividing your total credit balances by your total credit limits.Sometimes it’s good to mix things up once in a while.With a full credit report you’ll have a complete, comprehensive look at your credit activity.You can get 3 credit reports once a year from the 3 major credit bureaus (1 report per year each) to find out your credit standing.A lender or credit card provider who looks at your credit score will be able to determine right away if you’re a borrower who can be trusted to pay back the money they lend you.Credit scores are calculated from the information in your credit report, a file containing all of your credit and financial activity over the months and years.